Home Commercial PropertyZoopla-owner ZPG reports jump in profits

Zoopla-owner ZPG reports jump in profits

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29th Nov 17 9:38 am

Also announced plans to buy Dutch property analysis firm

The company behind British property portals, Zoopla and PrimeLocation, has reported rising revenue and announced the acquisition of a Dutch analytics firm as it continues its expansion drive.

ZPG said its sales rose 24 per cent to ยฃ244.5m in the year to September 30, while pre-tax profits nudged up 4 per cent to ยฃ48.1m as it booked record traffic of 648m online visits.

The company also announced plans to buy Dutch property analysis firm, Calcasa, for ยฃ26.5m in a deal, which they say, will see the creation of the largest residential property valuation database in Europe.

Founder and chief executive Alex Chesterman put the results down to a combination of โ€œunderlying organic growth and further strategic acquisitionsโ€.

Consumers are increasingly turning to these websites to shop around for the most attractive deals on products and services amid uncertainties in the property market following Britainโ€™s vote to leave the EU.

Chesterman added: โ€œThis is another example of a transaction that fits perfectly with our strategy. Calcasa is a market-leading business that we know well with strong underlying growth and which we believe will be even stronger under our ownership.

โ€œAnd we are buying the business at a price that is accretive to our shareholders.โ€

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